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Finance Section VS Settlement. Internal x External

Finance Section VS Settlement. Internal x External

Written by
June 27, 2024
0:00 So here's a quick overview of how the finance section is different from settlement. So settlement pulls from offer, and you can think of these as external. 0:14 So if we have, you know, expense one, let's say it's ah $100 and we've done 100 of them. Then in our settlement, we have that showing up, and this is something that you would send to the artist, ah, because pulling in, you offer, so this is all external. 0:44 Then the finance section, we've got some items in here, uhm, can add it this way, this is all internal, just for your venue, ah, so you can see these populating in profit and loss. 0:57 So profit and loss from the settlement should only be pulling in the headline, the ah, the artist payment, ah, basically what that offer ends up being as an expense, uhm, and it'll pull in like the gross ticket revenue, uhm, and tickets sold. 1:13 But for expenses it'll just pull in, ah, the line items that exist in, uhm, the finance section. Uhm, so as you can see, we see our bar staff, uhm, marketing, uh, couple little test line items here. 1:30 Uhm, so again, offer settlements is external, finance, P&L, that is internal.